CEVA Logistics has opened its own offices in Dhaka and Chittagong, Bangladesh, in support of its strategic expansion into the emerging Southeast Asian markets.
CEVA has been operational in Bangladesh for 17 years through a valued network partner, providing logistics services to a number of multinational and local customers.
"In line with its regional development strategy, CEVA has decided to open its own offices with a fully staffed team in order to meet the country’s continuing economic expansion and increasing demand for exports," the Switzerland-based firm said in a statement.
New head office and operational office
A head office located in downtown Dhaka is complemented by an operational office in Chittagong, Bangladesh’s second-largest city and main maritime gateway.
Through these offices, CEVA said it will offer a full range of freight management solutions including Purchase Order management, CFS (Container Freight Station), Customs brokerage, project management and other value-added services.
Fastest-growing market
CEVA said Bangladesh is projected to be the fastest-growing market in the region.
Currently, Bangladesh is the third-largest economy in South Asia.
It is expected to grow the fastest in the region (by 7.2%) in 2019-20 FY according to projections from the World Bank. A solid macroeconomic framework, political stability, implementation of planned public infrastructure projects and ongoing reforms to improve the business environment, underlie this projection.
“Bangladesh is strategically located to support trading with multiple regions. It has developed a mature and stable market for exports with the US, Europe, and China,” said Russell Pang, managing director emerging markets (Bangladesh, Cambodia, Laos & Myanmar) - CEVA Logistics.
“Our vision is to add greater value and increase service options to the market, notably the textile and garment industries, in addition to the increasing new higher value chain verticals of electronics, technology and healthcare. We look forward to developing our service profile in line with the increasing demands of our customers,” Pang added.
CEVA said aside from accelerating its local development in line with its regional expansion strategy, Bangladesh' table and mature market can allow CEVA to offer customers additional value-added services in traditional and emerging vertical markets.
